Jane Street Group LLC Purchases 12,639 Shares of RLI Corp. (NYSE:RLI)

Jane Street Group LLC lifted its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 212.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,579 shares of the insurance provider's stock after buying an additional 12,639 shares during the quarter. Jane Street Group LLC's holdings in RLI were worth $3,062,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RLI. Golden State Wealth Management LLC acquired a new position in RLI during the fourth quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in RLI during the fourth quarter valued at approximately $56,000. EverSource Wealth Advisors LLC grew its holdings in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after purchasing an additional 159 shares during the period. Quarry LP acquired a new position in RLI during the fourth quarter valued at approximately $108,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in RLI during the fourth quarter valued at approximately $120,000. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Up 1.2%

Shares of RLI stock traded up $0.88 during trading on Friday, reaching $75.71. The company's stock had a trading volume of 251,129 shares, compared to its average volume of 363,992. The business has a fifty day moving average price of $76.08 and a 200-day moving average price of $78.82. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 20.22 and a beta of 0.72. RLI Corp. has a one year low of $68.50 and a one year high of $91.15.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The business had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. RLI had a net margin of 19.53% and a return on equity of 16.63%. The firm's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, May 30th. This is a positive change from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is currently 21.05%.

Insider Transactions at RLI

In other news, Director Jordan W. Graham sold 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total value of $112,155.00. Following the sale, the director now owns 12,854 shares of the company's stock, valued at $961,093.58. The trade was a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the sale, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Jefferies Financial Group lowered shares of RLI from a "buy" rating to an "underperform" rating and cut their price target for the company from $95.00 to $61.00 in a research note on Monday, January 27th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Keefe, Bruyette & Woods cut their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.60.

RLI Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.